Fewer people have fallen victim to cryptocurrency scams in 2022 so far due to falling asset prices and the exit of inexperienced crypto users from the market, a new crypto crime report reveals. According to an Aug. 16 report from Chainalysis, total crypto scam revenue year-to-date is currently sitting at $1.6 billion, equating to a 65% decline from the prior year…
Digital asset exchange Crypto.com has just been given the green-light for “certain cryptoasset activities” in the United Kingdom, after receiving registration confirmation from the Financial Conduct Authority (FCA) on Tuesday. According to an Aug. 16 entry in the FCA’s Financial Services Register, ‘FORIS DAX UK LIMITED’ has been registered to conduct “certain cryptoasset activities”, whilst also obtaining Money Laundering Regulation…
Luxury resort chain Soneva has reportedly begun accepting cryptocurrency payments at its resorts in the Maldives and Thailand. “Accepting cryptocurrencies as a payment method is another example of enabling our international guests to easily make payments from anywhere in the world.” Soneva Accepts Cryptocurrency Payments Luxury resort chain Soneva has reportedly begun accepting payments in bitcoin and ethereum at its…
Illicit activity involving cryptocurrency is down 15% in volume so far this year, according to a new report from blockchain intelligence firm Chainalysis. This compares to a 36% decline in legitimate transactions. “If we dig into specific forms of cryptocurrency-based crime, we find that some have actually increased in 2022, while others have declined more than the market overall,” the…
One of the biggest crypto commentators on YouTube has filed a lawsuit against a fellow YouTuber for “defamatory and damaging statements,” seeking to recover damages. Ben Armstrong, who brands himself as BitBoy Crypto, says Erling Mengshoel Jr., a.k.a. Atozy, posted a video on YouTube entitled “This Youtuber Scams His Fans… BitBoy Crypto” in November 2021. The lawsuit claims a laundry…
National Football League (NFL) team Houston Texans has become the first organization in the league to sell single-game suites in exchange for crypto. The move comes as part of a deal with Texas-based crypto firm bitWallet, which as of Aug. 16 became the official crypto wallet provider for the team. bitWallet will also provide intermediary services by exchanging crypto for…
John Haar, a former asset manager at financial institution Goldman Sachs believes the lack of support from “legacy finance” for Bitcoin stems from a poor understanding of the cryptocurrency. Haar’s views were expressed in an essay on Aug. 14, which was originally sent to private clients of Bitcoin brokerage platform Swan Bitcoin. Haar previously spent 13 years at Wall Street asset…
Google parent company Alphabet poured the most amount of capital into the blockchain industry compared to any other public company, investing $1.5 billion between Sep. 2021 and Jun. 2022, a new report shows. In an updated blog published by Blockdata on Aug. 17, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public…
Hedge fund manager Michael Burry’s Scion Asset Management dumped all but one of its stock holdings in the second quarter, according to the firm’s filing with the U.S. Securities and Exchange Commission (SEC). Burry, famed for forecasting the 2008 financial crisis, has predicted a stock market crash, warning that winter is coming. Michael Burry Sells All Stocks but One Michael…
According to a recent report published on Tuesday, the Israeli-American founder and CEO of Celsius Network, Alex Mashinsky, was in charge of the company’s trading strategy. The report, citing multiple people familiar with the matter, said Mashinsky sold millions of dollars’ worth of bitcoin in anticipation to buy bitcoin cheap. Except after the CEO allegedly placed this bet, bitcoin markets…
